Coinspeaker
Berenberg Analysts Expect Bitcoin Price to Hit $56,630 by April 2024
Bitcoin (BTC) could rally nearly 100 percent in the coming months according to an analysis conducted by analysts at Berenberg Bank. Analysts from the German-based bank expect Bitcoin price to trade around $56,630 by April next year, the expected timing for the fourth halving event. Led by Mark Palmer, the analysts at Berenberg highlighted that there is an increased demand for the top digital asset thus reiterating its buy rating on MicroStrategy Inc (NASDAQ: MSTR), the largest public company holder of Bitcoin.
Notably, the bank raised its MSTR price target to $510 from $430 based on the fact that the company has been adding more Bitcoins during the crypto winter. According to the latest stock market data MSTR traded around $413 during Wednesday’s after-hours, having gained more than 192 percent YTD.
Undeniably, the Bitcoin halving has triggered a bullish outlook not only for Bitcoin but also for the enti
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